The Australian Capital Territory is the most densely populated of Australia's states and territories, with 400,000 of the state's population residing in Canberra, the only city. Because most of the population work either directly or indirectly for the government, the ACT's property market is closely linked to the staffing policies of the elected government.
Canberra is becoming a popular focus for both investors and owner occupiers as unlike most other Australian states, the median property price for houses and units is growing at a steady rate. Canberra is expected to record a 16% increase between now and 2020, the highest price growth of all capital cities.
ACT agent commission rates vary significantly depending on where you're selling. There are more than 250 real estate agents across the ACT and the average commission charged is 2.78%. When searching for an agent, price should only be one of the factors that you consider, not the only factor.